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Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
JPMorgan analysts have raised concerns about the sustainability of the $12 billion year-to-date inflow into crypto assets, given the current high bitcoin prices relative to production costs and gold. The substantial inflows this year have been primarily driven by spot bitcoin exchange-traded funds (ETFs). However, much of this inflow represents a shift from crypto wallets […]
https://news.bitcoin.com/jpmorgan-questions-sustainability-of-12-billion-crypto-inflows/
Gamestop Shares Dip 12% After CEO's Financial Strategy Update
Gamestop shares (NYSE: GME) declined by 12% against the U.S. dollar on Mon., closing at $25.22 per share. The drop followed a shareholder meeting where CEO Ryan Cohen emphasized “cost reductions and profitability.”
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The U.S. Supreme Court has agreed to hear Nvidia’s appeal to dismiss a securities fraud lawsuit accusing the company of misleading investors about its sales to the cryptocurrency industry. Nvidia’s appeal follows a lower court’s decision to revive a class-action lawsuit. The suit alleges that Nvidia and its CEO, Jensen Huang, downplayed the impact of […]
https://news.bitcoin.com/us-supreme-court-to-hear-nvidias-bid-to-dismiss-crypto-related-lawsuit/
Digital asset investment products have seen substantial outflows totaling $600 million, marking the most significant withdrawal since March 22, 2024. According to Coinshares and lead researcher James Butterfill, this exodus is attributed to a hawkish Federal Open Market Committee (FOMC) stance, leading investors to reduce their exposure to fixed-supply assets like bitcoin. Coinshares Flow Report […]
https://news.bitcoin.com/digital-asset-funds-witness-major-shake-up-amid-feds-hawkish-stance-coinshares/
According to an X post on Monday, the cryptocurrency trading division of DRW Holdings, known as Cumberland, has been granted a Bitlicense by the New York State Department of Financial Services (NYDFS). Cumberland DRW Secures Bitlicense Cumberland, a trading desk that provides institutional over-the-counter (OTC) liquidity for numerous cryptocurrencies, now holds a Bitlicense. This business […]
https://news.bitcoin.com/cumberland-earns-bitlicense-bolstering-institutional-and-otc-crypto-services/
Over the past week, bitcoin has declined by 4% against the U.S. dollar from June 9 to June 16, 2024, yet it has surged over 152% in the past year. This year, bitcoin has maintained a position above the $60,000 mark for a record-setting 107 days so far. Bitcoin’s Resilient Streak: Maintaining Highs Amid Market […]
https://news.bitcoin.com/bitcoins-new-normal-prices-over-five-digits-for-28-of-its-lifetime/
While the crypto market experienced a general decline, with bitcoin dropping 5.6% and ethereum falling 4.4%, roughly six crypto tokens managed to stand out over the past week. Weekly Crypto Report: Bitcoin and Ethereum Drop, Numerous Tokens See Major Losses As of this writing, the global crypto market capitalization stands at $2.39 trillion, reflecting a […]
https://news.bitcoin.com/crypto-economy-shrinks-over-3-dozen-coins-record-double-digit-losses/
On June 17, 2024, ethereum is priced at $3,521, fluctuating between $3,495 and $3,645 over the past 24 hours. Ethereum On the 1-hour chart, ethereum’s (ETH) recent high is $3,652, and the low is $3,484. The trend has been bearish following the peak on June 21, characterized by increased selling volume. A potential entry point […]
https://news.bitcoin.com/ethereum-technical-analysis-eth-faces-mixed-signals-amid-short-term-downtrend/
As of June 17, 2024, Bitcoin is trading at $65,805, with a 24-hour intraday range between $65,518 and $66,992. The cryptocurrency market is displaying notable volatility, as evidenced by significant trading volume and fluctuating price levels. Bitcoin Bitcoin’s 1-hour chart reveals a clear downward trend following a recent peak, with key resistance and support levels […]
https://news.bitcoin.com/bitcoin-technical-analysis-btc-endures-persistent-downward-trend-amid-high-volatility/
Singapore’s national goalkeeper, Hassan Sunny, has been appointed as the Chief Security Officer and spokesperson for HTX Global and TRON. The announcement was first made by Justin Sun on social media. Drawing parallels between Sunny’s role on the football field and his new position, Sun expressed confidence that just as Sunny defends the goal line […]
https://news.bitcoin.com/singapores-national-goalkeeper-hassan-sunny-appointed-as-chief-security-officer-for-htx-global-and-tron/
The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA […]
https://news.bitcoin.com/japanese-regulator-issues-warning-to-unregistered-crypto-platform-lbank-exchange/
Russian President Vladimir Putin criticized the United States for its abandonment of the gold standard, remarking in a Sputnik-released video that the U.S. dollar is now a trust-based currency without tangible backing, a decision underscored by the absence of gold equivalence. This critique arrives during efforts by BRICS countries to diminish reliance on the U.S. […]
https://news.bitcoin.com/putin-criticizes-u-s-dollars-lack-of-gold-backing-calls-for-alternative-payment-systems/
Ripple’s chief legal officer has countered the U.S. Securities and Exchange Commission (SEC)’s allegations following the crypto firm’s proposal to limit its penalty to no more than $10 million. The legal chief highlighted that the SEC is “raging” and emphasized that, unlike the Terraform Labs case, there are no victims to compensate in Ripple’s case. […]
https://news.bitcoin.com/ripple-legal-chief-countered-sec-allegations-no-victims-to-compensate/
Ethena’s Yield-Bearing Stablecoin USDE Market Cap Exceeds $3.5B
Based on the most recent data, the supply of Ethena’s yield-bearing stablecoin USDE has increased by 4.69% over the past week, equating to 158 million tokens. The total market value of USDE, the fourth-largest stablecoin by market cap, now stands at $3.523 billion.
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With the first half of June concluded, there have been 37 venture capital deals and fundraising events in the crypto sector. Collectively, these investments totaled $317.87 million, with Avail, a modular blockchain project, leading the pack with $43 million. 37 Crypto Startups and Projects Gather $317 Million Crypto investments are ongoing, and in the last […]
https://news.bitcoin.com/crypto-sector-secures-317m-in-venture-capital-deals-in-early-june/
According to Venezuelan dissidents and cryptocurrency analysts, the government of Venezuela is likely to keep using crypto to bypass the returning sanctions on oil and gold activities. Even when Nicolas Maduro’s administration seems to have been affected by corruption cases involving crypto, watchers report that these tools will keep diverting funds from regular channels. Venezuelan […]
https://news.bitcoin.com/venezuela-likely-to-keep-using-crypto-to-bypass-new-set-of-us-sanctions/
As of June 15, U.S.-listed bitcoin miners have reached a record market capitalization of $22.8 billion, according to global investment bank JPMorgan. This surge is led by significant gains in stocks like Core Scientific, Terawulf, and Iren. The overall sector market cap has increased by 24% since the end of May, partly due to a […]
https://news.bitcoin.com/us-listed-bitcoin-miners-hit-record-market-cap-of-22-8-billion-jpmorgan-says/
Peter Krauth, a silver market analyst and author of “The Great Silver Bull,” has predicted an upcoming silver shortage produced by the increased demand for the precious metal for different applications. Krauth states that demand for silver has outpaced supply, and there are probably 12 to 24 months of silver available before inventories run out. […]
https://news.bitcoin.com/analyst-forecasts-silver-shortage-price-increases-as-consumers-tap-dwindling-secondary-inventories/
By enhancing liquidity, simplifying the user experience, and supporting diverse trading solutions, an omnichain trading infrastructure like Orderly Network is transforming the DeFi landscape and paving the way for widespread adoption. While the total value of decentralized finance (DeFi) approaches $100 billion as of June 2024, analysts predict the market will grow six times by […]
https://news.bitcoin.com/resolving-the-liquidity-dilemma-orderly-networks-next-gen-trading-infrastructure-elevates-defi-efficiency-with-institutional-grade-liquidity/
Minneapolis Federal Reserve President Neel Kashkari addressed Bank of America’s prediction for a potential Fed interest rate cut this year in an interview with CBS News on Sunday. Bank of America predicts that the Fed will cut rates once this year, likely in December. “I think that’s a reasonable prediction,” Kashkari said, noting that it […]
https://news.bitcoin.com/fed-president-kashkari-finds-bank-of-americas-december-rate-cut-prediction-reasonable/
PlayDoge (PLAY) is cementing itself as one of the most anticipated new meme coin launches this year. The retro Play-to-Earn project has blown past the $4.5 million milestone in presale. And with that early backing, some analysts believe PLAY could be in line for sizable gains once listed on DEXs. ‘90s Nostalgia Fuels Early Demand […]
https://news.bitcoin.com/playdoge-meme-coin-hits-new-heights-with-4-5m-presale-raise-analyst-forecasts-big-gains/
Zksync’s token, known as ZK, is currently trading at a value 19% below its initial price of $0.321 during early morning sessions. The new cryptocurrency’s market valuation stands at $932.14 million, with each ZK token trading at $0.2575. This positions ZK among the top 100 largest market capitalizations, ranking at 90th. Notable exchanges listing ZK […]
https://news.bitcoin.com/zksyncs-zk-token-debuts-with-932m-valuation-south-korean-market-shows-strong-interest/
Ripple's Chief Legal Officer challenged the SEC's allegations, emphasizing that Ripple's case has no victims requiring compensation. This response follows Ripple's proposal to limit its penalty to $10 million, significantly lower than the SEC's initial demand of $2 billion 🤔
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Ethiopian Airlines Group has partnered with Loyyal to leverage the latter’s blockchain infrastructure for its customer loyalty program. The partnership, which is earmarked for Ethiopian Airlines’ Shebamiles members, enables them to earn rewards daily, driving further engagement and loyalty. Three-Way Partnership One of the leading African airlines, Ethiopian Airlines Group, has appointed blockchain-based loyalty rewards […]
https://news.bitcoin.com/ethiopian-airlines-partners-with-blockchain-based-loyalty-rewards-firm-loyyal/
Vaneck, a global investment firm, has announced the launch of the Vaneck Bitcoin ETF (VBTC), the first Bitcoin exchange-traded-fund on the Australian Securities Exchange (ASX). Set to commence trading on June 20, 2024, the ETF is touted as the most cost-effective Bitcoin fund exposure in Australia. Arian Neiron, Vaneck’s CEO for the Asia-Pacific region, emphasized […]
https://news.bitcoin.com/australian-securities-exchange-asx-approved-listing-its-first-bitcoin-etf/
Regulation through enforcement often yields suboptimal outcomes for all stakeholders, including consumers, as it creates a negative stigma around industry companies,” asserted the co-founder of an Australian crypto startup. The co-founder expressed optimism that the Australian Securities and Investments Commission’s recent court setback would encourage Parliament to establish a regulatory framework for the Aussie crypto […]
https://news.bitcoin.com/block-earner-co-founder-lack-of-regulation-limits-australian-crypto-market-to-token-sales-only/
Crypto market participants’ growing preference for character or celebrity meme tokens signals a growing disdain for projects with a high fully diluted value, the latest Kucoin report has said. Tap-to-earn projects have “remarkably higher overall participation data” due to their lower barriers to understanding and participation. Tokens with High FDV Face Limited Price Discovery Opportunities […]
https://news.bitcoin.com/study-crypto-market-participants-favor-meme-coins-shun-high-fdv-projects/
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has indicated to lawmakers that he expects spot ethereum exchange-traded funds (ETFs) to launch this summer. The SEC is still working with fund issuers on their S-1 filings, which must be declared effective before the spot ether ETFs can launch. Gary Gensler Answers Crypto Questions The […]
https://news.bitcoin.com/sec-chair-gary-gensler-envisions-us-spot-ether-etfs-launching-this-summer/
Paul Ryan, a former speaker of the House of Representatives, has assessed the possible role that stablecoins will play in fighting an upcoming U.S. debt crisis. According to Ryan, the demand derived from the increasing relevance of dollar-backed stablecoins, which use U.S. treasuries as backing, will help keep a healthy demand on U.S. debt and […]
https://news.bitcoin.com/former-house-speaker-paul-ryan-stablecoins-can-help-fight-an-upcoming-us-debt-crisis-and-chinas-growing-influence/
Merchants are increasingly adopting cryptocurrencies like bitcoin and ethereum, reflecting a growing trend towards digital currency payments as a viable alternative to traditional means. Merchants Embrace Digital Currency Payments Cryptocurrency is no longer a fringe concept but a rapidly growing trend in the retail sector. Retail organizations are preparing for and embracing digital currency payments. […]
https://news.bitcoin.com/the-state-of-crypto-merchant-adoption-in-2024/